Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to absorb deposits worth Rs 1.25 trillion in a single day due to excess liquidity in the banking system.

The bank is going to withdraw the amount using the deposit collection tool on Friday. According to the Nepal Rastra Bank, the bidding for the same will take place at 3 pm today.

Interested bidders can bid for a minimum of Rs 100 crore and a maximum of Rs 50 million.

According to the Nepal Rastra Bank, the bidding for deposit collection should be done at interest rate and multi-interest rate can also be bidder. Only banks and financial institutions of class ‘A’, ‘B’ and ‘C’ will be allowed to participate in the bidding process. According to the NRB, the principal and interest of this 5-day deposit collection instrument will be paid on April 15.